JCU Logo


COURSE NAME: "Principles of Macroeconomics"
SEMESTER & YEAR: Fall 2020

EMAIL: [email protected]
HOURS: TTH 8:20-9:40 AM
PREREQUISITES: Prerequisite: MA 100 or MA 101; Recommended: EN 105
OFFICE HOURS: 8:00-8:30 before class or by appointment

An introduction to the basic principles of the macro economy, such as national income accounting, determination of national income, business cycles, inflation, unemployment, fiscal and monetary policy, macroeconomics in the open economy, and economic growth.
The course will cover the following topics in macroeconomics: comparative advantage and trade, supply and demand, the data of macroeconomics, economic growth, unemployment, the financial system, basics of finance, money, banking and central banks, inflation, loanable funds, exchange rates, balance of payments,  aggregate supply and demand, business cycles, monetary and fiscal policy, and the inflation-unemployment trade-off.  The course focus is on critical-thinking and analyses of economic issues.  The course includes a debate on a macroeconomic topic assigned by the professor.

The course materials are posted on Moodle, our leaning management system, available at http://moodle.johncabot.edu/ .

You have to create your own account, unless you already have one. Information on creating moodle accounts can be found at https://johncabot.libguides.com/moodle.  The course id is EC202-2SP20

Once you are logged in, search for the course (pay attention to the right section, if necessary). You will then be prompted to enter an enrollment key to access the course. For this course the enrollment key will be given in class.


*  Understand basic macroeconomic tools and concepts so as to use them to construct critical arguments regarding economic issues: to include trade, measurement of GDP and inflation, markets, financial system, labor markets, central banks and monetary policy, aggregate demand and supply, fiscal policy, IS-LM, business cycles, and economic growth.

*   Learn to read data and evaluate sources of economic data. 

*   Develop applications of mathematical tools. 

*   Write and speak clearly and carefully so as to better articulate arguments.

*   Locate data sources and prepare visual presentations to learn how to properly document materials  and convey information clearly and ethically. 

Book TitleAuthorPublisherISBN numberLibrary Call NumberCommentsFormatLocal BookstoreOnline Purchase
Macroeconomics, 4th EditionMankiw and TaylorCengage Learning978-1-4737-7536-2 Previous editions of the Mankiw text or Mankiw and Taylor introduction to macroeconomics will do.   

First ExamShort problems and essays20%
Second ExamShort problems and essays20%
Third ExamShort problems and essays20%
Final exam Comprehensive essays plus short problems30%
Assignment: Economomic DiscussionStudents will present a single visual power point slide and present a short discussion to the class. Assessment includes the depth of the presentation and preparation of the speaker.10%

AWork of this quality directly addresses the question or problem raised and provides a coherent argument displaying an extensive knowledge of relevant information or content. This type of work demonstrates the ability to critically evaluate concepts and theory and has an element of novelty and originality. There is clear evidence of a significant amount of reading beyond that required for the course. 90-93: A-; 94 and higher: A
BThis is highly competent level of performance and directly addresses the question or problem raised.There is a demonstration of some ability to critically evaluatetheory and concepts and relate them to practice. Discussions reflect the student’s own arguments and are not simply a repetition of standard lecture andreference material. The work does not suffer from any major errors or omissions and provides evidence of reading beyond the required assignments. 80-83: B-; 84-86: B; 87-89: B+
CThis is an acceptable level of performance and provides answers that are clear but limited, reflecting the information offered in the lectures and reference readings. 70-73: C-; 74-76: C; 77-79 C+
DThis level of performances demonstrates that the student lacks a coherent grasp of the material.Important information is omitted and irrelevant points included.In effect, the student has barely done enough to persuade the instructor that s/he should not fail. 60-63: D-; 64-67: D; 68-69: D+
FThis work fails to show any knowledge or understanding of the issues raised in the question. Most of the material in the answer is irrelevant. Below 60 is failing.


As the final exam is comprehensive, students will have the option to drop ONE of their lowest midterm exam grade and move those weights to the final. Students who do not meet the attendance requirements will not have this option.

Students are expected to have read the chapters before class and to participate in the lectures if they wish to learn the material well.

No electronic devices are allowed in class.  No eating and drinking during class.

Bring a calculator to class.


As stated in the university catalog, any student who commits an act of academic dishonesty will receive a failing grade on the work in which the dishonesty occurred. In addition, acts of academic dishonesty, irrespective of the weight of the assignment, may result in the student receiving a failing grade in the course. Instances of academic dishonesty will be reported to the Dean of Academic Affairs. A student who is reported twice for academic dishonesty is subject to summary dismissal from the University. In such a case, the Academic Council will then make a recommendation to the President, who will make the final decision.
John Cabot University does not discriminate on the basis of disability or handicap. Students with approved accommodations must inform their professors at the beginning of the term. Please see the website for the complete policy.


This syllabus may be subject to changes to include exam dates.

Week 1:  September 22, 24

Chapter 1 and Chapter 2:  Introduction
Trade: Interdependence and the gains from trade (see pdf Chapter)


Week 2: September 29, October 1

Trade (cont.)

Chapter 3: The Market Forces of Supply and Demand


Week 3: October 6, 8, and 9

Chapter 4:  Measuring a nation’s well-being and the price level

Chapter 5: Production and growth


Week 4: October 13, 15, and 16
Chapter 5: (cont.)

Exam 1: Thursday, October 15: Chapters Trade, 3, 4, 5.

Chapter 7: Saving, investment, and the financial system

Week 5: October 20, 22

Chapter 7: (cont.)

Week 6: October 27, 29

Chapter 8: The monetary system


Week 7: November 3, 5

Chapter 8 (cont.)

Exam 2:  Thursday, November 5: Chapters 7 and 8.


Week 8: November 10, 12, 13

Chapter 6: Unemployment and the labor market

Chapter 9: Open-economy macroeconomics

Chapter 10: Business cycles


Week 9: November 17, 19

Chapter 12: Aggregate demand and aggregate supply

(Chapter 11: Keynesian economics and IS-LM for those interested in studying this more in depth).

Exam 3: Take home exam on Chapter 12 due Monday, November 24.


Week 10: November 24, 26

Chapter 13:  The influence of monetary and fiscal policy on aggregate demand

Chapter 15:  Supply side policies


Week 11: December 1, 3

Chapter 16: The causes and aftermath of the financial crisis

Chapter 17: Common currency areas


Week 12: December 10

Discussion for exam preparation


Final Exam Period: December 11 to 14.  See University schedule for the day and time.

Comprehensive final exam.